EUR/CHF: Further Growth Is Expected
Trading tone is neutral. While resistance 1.1356 keeps, a near term forecast will stay cautiously bearish and fall from 1.1501 is in favor to continue. Pivot points are at: (S1) 1.1310; (P) 1.1328; (R1) 1.1352.
Overcoming of resistance 1.1356 will indicate completion of the pull back from 1.1501 at 1.1260. In that case, further growth would be seen for retesting 1.1501. Hitting of 1.1260 will aline low 1.1173.
Price moves from a medium term top 1.2004 are corrective. A break of key resistance 1.2 is still expected in the medium term long term. Downside should be contained by support zone of 1.1198 and 61.8% retracement of 1.0629 to 1.2004 at 1.1154. Overcoming of support zone 1.1198 will point out a long term trend reversal. In that case, 1.0629 key support will be back into focus.